-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 FWN7waPrAgHlB/C75vdF3Bop+q/Um+xiTlU74uK52Of4hyIEnoKjHQGBR/FLuifT
 p+ihhPK5jNxtLztg04TCjQ==

<SEC-DOCUMENT>0001181431-04-004430.txt : 20040126
<SEC-HEADER>0001181431-04-004430.hdr.sgml : 20040126
<ACCEPTANCE-DATETIME>20040126171609
ACCESSION NUMBER:		0001181431-04-004430
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040122
FILED AS OF DATE:		20040126

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EMAGIN CORP
		CENTRAL INDEX KEY:			0001046995
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				561764501
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2070 ROUTE 52
		STREET 2:		SUITE 2000 V6E 2K3
		CITY:			HOPEWELL JUNCTION
		STATE:			NY
		ZIP:			12533
		BUSINESS PHONE:		845 892 1900

	MAIL ADDRESS:	
		STREET 1:		2070 ROUTE 52
		STREET 2:		SUITE 2000 V6E 2K3
		CITY:			HOPEWELL JUNCITON
		STATE:			NY
		ZIP:			12533

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FASHION DYNAMICS CORP
		DATE OF NAME CHANGE:	19980805

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			TRAVELERS INSURANCE CO
		CENTRAL INDEX KEY:			0000733076
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15751
		FILM NUMBER:		04544010

	BUSINESS ADDRESS:	
		STREET 1:		ONE TOWER SQUARE
		STREET 2:		ATTN FINANCIAL SERVICES LEGAL DIVISION
		CITY:			HARTFORD
		STATE:			CT
		ZIP:			06183-2020
		BUSINESS PHONE:		860-277-0111

	MAIL ADDRESS:	
		STREET 1:		ONE TOWER SQUARE
		STREET 2:		ATTN FINANCIAL SERVICES LEGAL DIVISION
		CITY:			HARTFORD
		STATE:			CT
		ZIP:			06183-2020

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ASSOCIATED MADISON COMPANIES INC
		CENTRAL INDEX KEY:			0000806395
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15751
		FILM NUMBER:		04544013

	BUSINESS ADDRESS:	
		STREET 1:		153 E 53RD ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10043
		BUSINESS PHONE:		2127937338

	MAIL ADDRESS:	
		STREET 1:		153 E 53RD ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10043

	FORMER NAME:	
		FORMER CONFORMED NAME:	ASSOCIATED MADISON COMPANIES INC/NY/ PRIMERICA CORP
		DATE OF NAME CHANGE:	19990402

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CITIGROUP INSURANCE HOLDING CORP
		CENTRAL INDEX KEY:			0001003658
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15751
		FILM NUMBER:		04544011

	BUSINESS ADDRESS:	
		STREET 1:		3120 BRECKINRIDGE BLVD
		CITY:			DULUTH
		STATE:			GA
		ZIP:			30199
		BUSINESS PHONE:		2127937589

	MAIL ADDRESS:	
		STREET 1:		3120 BRECKINRIDGE BLVD
		CITY:			DULUTH
		STATE:			GA
		ZIP:			30199

	FORMER NAME:	
		FORMER CONFORMED NAME:	PFS SERVICES INC
		DATE OF NAME CHANGE:	19990326

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CITIGROUP INC
		CENTRAL INDEX KEY:			0000831001
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15751
		FILM NUMBER:		04544014

	BUSINESS ADDRESS:	
		STREET 1:		399 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10043
		BUSINESS PHONE:		2125591000

	MAIL ADDRESS:	
		STREET 1:		399 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10043

	FORMER NAME:	
		FORMER CONFORMED NAME:	TRAVELERS GROUP INC
		DATE OF NAME CHANGE:	19950519

	FORMER NAME:	
		FORMER CONFORMED NAME:	TRAVELERS INC
		DATE OF NAME CHANGE:	19940103

	FORMER NAME:	
		FORMER CONFORMED NAME:	PRIMERICA CORP /NEW/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd30033.xml
<DESCRIPTION>EMAGIN 01.22.04
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-01-22</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001046995</issuerCik>
        <issuerName>EMAGIN CORP</issuerName>
        <issuerTradingSymbol>EMA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000831001</rptOwnerCik>
            <rptOwnerName>CITIGROUP INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>399 PARK AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10043</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000806395</rptOwnerCik>
            <rptOwnerName>ASSOCIATED MADISON COMPANIES INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>153 EAST 53RD ST.</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10043</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001003658</rptOwnerCik>
            <rptOwnerName>CITIGROUP INSURANCE HOLDING CORP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>3120 BRECKINRIDGE BOULEVARD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DULUTH</rptOwnerCity>
            <rptOwnerState>GA</rptOwnerState>
            <rptOwnerZipCode>30199</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000733076</rptOwnerCik>
            <rptOwnerName>TRAVELERS INSURANCE CO</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>ONE TOWER SQUARE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HARTFORD</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06183</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2004-01-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>200000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>2.79</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3379876</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Subsidiary</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Warrants to Purchase Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1200000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1200000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Subsidiary</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Warrants to Purchase Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>451842</value>
                    <footnoteId id="F3"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>451842</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Subsidiary</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The Travelers Insurance Company (&quot;Travelers&quot;) directly beneficially owns the securities reported herein. Travelers is a wholly owned subsidiary of Citigroup Insurance Holding Corporation (&quot;Citigroup Insurance&quot;), which is a wholly owned subsidiary of Associated Madison Companies, Inc. (&quot;Associated Madison&quot;), which is a wholly owned subsidiary of Citigroup Inc. (&quot;Citigroup&quot;). Each of Citigroup Insurance, Associated Madison and Citigroup disclaims beneficial ownership of the securities reported herein except to the extent of their pecuniary interest therein.</footnote>
        <footnote id="F2">The warrants to purchase common stock have an exercise price of $0.53 per share, are exercisable immediately, and have an expiration date of June 30, 2007.</footnote>
        <footnote id="F3">Pursuant to the terms of the Note Purchase Agreement, dated August 20, 2001, and the Memorandum of Understanding, dated June 17, 2002, each executed between Travelers and eMagin Corporation. Travelers acquired a total of 451,842 warrants to purchase common stock with issuance dates between August and November 2001 that are exercisable for a 3 year period at a weighted average conversion price of $1.55 per share.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Citigroup Inc., By: Serena D. Moe, Assistant Secretary</signatureName>
        <signatureDate>2003-01-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Associated Madison Companies, Inc., By: Serena D. Moe, Assistant Secretary</signatureName>
        <signatureDate>2004-01-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Citigroup Insurance Holding Corporation, By: Serena D. Moe, Assistant Secretary</signatureName>
        <signatureDate>2004-01-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>The Travelers Insurance Company, By: Serena D. Moe, Assistant Secretary</signatureName>
        <signatureDate>2004-01-23</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----